National Bankshares Cuts Canadian Tire (TSE:CTC.A) Price Target to C$185.00

Key Points

• National Bankshares has lowered its price target for Canadian Tire from C$190.00 to C$185.00, maintaining a "sector perform" rating.
• Other firms have varied opinions on the stock, with Desjardins raising their target to C$195.00, while BMO cut theirs to C$175.00.
• As of mid-day trading, Canadian Tire's shares dropped by C$2.02 to C$169.94, reflecting a market cap of C$9.19 billion.

Canadian Tire (TSE:CTC.A - Get Free Report) had its price target cut by research analysts at National Bankshares from C$190.00 to C$185.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The firm presently has a "sector perform" rating on the stock. National Bankshares' price objective would indicate a potential upside of 8.86% from the stock's previous close.

A number of other research firms have also recently issued reports on CTC.A. Desjardins raised their price objective on Canadian Tire from C$175.00 to C$195.00 and gave the company a "buy" rating in a research report on Tuesday, August 5th. TD Securities cut their price objective on Canadian Tire from C$184.00 to C$183.00 and set a "hold" rating for the company in a research report on Wednesday, October 8th. BMO Capital Markets cut Canadian Tire from an "outperform" rating to a "market perform" rating and cut their price objective for the company from C$191.00 to C$175.00 in a research report on Friday, August 8th. Finally, Scotiabank lifted their price target on Canadian Tire from C$145.00 to C$150.00 and gave the stock an "underperform" rating in a report on Friday, August 8th. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of C$172.56.

Canadian Tire Stock Performance

Shares of CTC.A traded down C$2.02 during mid-day trading on Thursday, reaching C$169.94. The company's stock had a trading volume of 39,424 shares, compared to its average volume of 297,323. Canadian Tire has a 1-year low of C$139.50 and a 1-year high of C$194.39. The stock has a market cap of C$9.19 billion, a P/E ratio of 12.42, a PEG ratio of 0.35 and a beta of 1.01. The business has a 50-day simple moving average of C$167.95 and a two-hundred day simple moving average of C$169.13. The company has a current ratio of 1.79, a quick ratio of 1.15 and a debt-to-equity ratio of 173.58.

About Canadian Tire

Canadian Tire Corporation, Limited, TSX: CTC.A TSX: CTC or 'CTC', is a group of companies that includes a Retail segment, a Financial Services division and CT REIT. Our retail business is led by Canadian Tire, which was founded in 1922 and provides Canadians with products for life in Canada across its Living, Playing, Fixing, Automotive and Seasonal & Gardening divisions.

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